Excel Funds Management Inc.

Emerging Markets

Latvia Gets a Double Dose of Good News

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Latvia received a double-dose of good news last week in that the country reported a strong gain in third-quarter output and had its credit rating raised by one notch at S&P.

“To their huge credit they buckled under, took the pain and austerity and pushed forward with structural reforms, and are now growing” an S&P spokesperson was quoted as saying.

The strong economic performance out of Latvia, a Baltic state neighboring Russia, was on the back of a deficit reduction plan estimated at 1.6% in 2012.

While the credit default market’s reaction was relatively muted and only moved default swaps down 2 bps, the upgrade in the Latvia’s credit rating will almost certainly help lower borrowing costs for the country’s government issued fixed income and sovereign debt.

Both the Excel EM High Income Fund and the Excel Emerging Europe Fund invest in this region of the world. And with exposures to both fixed income and equity markets, and boasting “on the ground” professional managers, Excel Funds provides the Canadian investor with opportunities to profit in uniquely compelling markets that for the most part remain untapped outside of only the institutional investor.

Written by Jack S.

Halas, Sedder. Latvia Gets a Double Dose of Good News – Emerging Europe Real Time, Wall Street Journal.

 

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments.  Please read the prospectus before investing.  Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

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Author: Excel Funds Management

We Are Leaders. Our Focus is Undivided. Excel Funds is Canada’s specialist in Emerging Market investment opportunities. We pioneered Emerging Market mutual fund design and distribution in Canada. Our focus is undivided – Emerging Markets is all we do. Our Mission Is To Offer Canadians True Global Access By offering Canadians access to rapid growth markets, Excel Funds provides truly global and diverse investment value. Our clients want consistent, responsible and intelligent solutions – we will never stop being challenged and deliver on client expectations. We Listen. We Are Determined To Deliver. Our clients want to understand better. Excel Funds is the only company dedicated to providing investors with actively managed, best-in-class Portfolio Managers based in regional markets. In order to deliver deeper understanding, we are not removed from unique cultural, political and economic experiences. We Initiate. We Create. Investors benefit from strong, sustainable growth. To create wealth for our clients we will: • Offer globally diverse opportunities to capture shifts in world economies • Not resist change and continually lead in Emerging Markets global growth • Engage world class institutional managers for retail investors We Are Passionate. We Will Never Stop Innovating. True leadership is enabling and seeks a positive outcome for all invested. We will not rest on past success, and continue to provide clients with: • Innovative fund structures • Canada’s largest & most comprehensive Emerging Markets products • The best institutional level Portfolio Managers • World class on-the-ground active managers • A singular focus on Emerging Markets, the driver of global growth

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